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Airline profits set for turbulence?

机译：航空公司的利润会动荡吗？

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In the wake of Ukraine, Iraq and the rise in Middle East-based geopolitical tensions, it is perhaps of little surprise that oil prices have touched nine-month highs over the past month. Familiarity may breed contempt but it is a sad fact that uncertainty breeds fear and speculation and that this most usually results in commodity prices rising. For the global airline industry the prospect of a new round of fuel price uncertainty comes at a time when profitability and margins are already low. True, some airlines are still doing well but, with mature western airlines facing increased regulatory and environmental taxes set against a background of increasing capacity and competition, a struggle with another round of rising fuel costs is the last thing that airlines need. Low airline profitability may seem a far cry from how it appears to the outside world, as observers watch orders for new more fuel-efficient aircraft appearing like confetti.
机译：在乌克兰，伊拉克以及基于中东的地缘政治紧张局势加剧之后，油价在过去一个月达到9个月高点也许不足为奇。熟悉可能会轻蔑，但令人沮丧的事实是不确定性会滋生恐惧和投机行为，而这通常会导致商品价格上涨。对于全球航空业来说，在盈利能力和利润率已经很低的时候，新一轮燃油价格的不确定性就来了。的确，一些航空公司仍然表现良好，但是，随着成熟的西方航空公司在容量和竞争不断加剧的背景下面临着越来越多的监管和环境税，与航空公司最后一轮油价上涨的斗争是最后一件事。航空公司的低盈利能力似乎与外界的看法相去甚远，因为观察者注意到订购的新型燃油效率更高的飞机看起来像纸屑。

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